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20211216 Premarket Prep DAX - Bear Market Trader
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20211216 Premarket Prep DAX

20211216 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DAX. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

  • Price trad­ing above last week’s body but still with­in range

Click to Enlarge

Sen­ti­ment

  • LN open
    • ABove Val­ue, Out­side Range
  • Open dis­tance to value
    • 1.41xASR
  • Mar­ket Profile
    • Val­ue cre­at­ed below the pre­vi­ous with price cur­rent­ly trad­ing above
  • Nar­ra­tive
    • Huge Imbal­ance, could see a con­tin­u­a­tion to the move
    • D1 Bull Engulf giv­ing D1-C‑D 15627.52 and price cur­rent­ly trad­ing above body and range
    • H4 Phase 2 with price trad­ing with­in D1 sup­ply arriv­ing at H4 QHi
    • Prev. Day Exceed­ed ADR by 1.09
    • Trend change: Mixed trend
    • ADR exhaus­tion not far above open
    • Price opened above yesterday’s high
    • Asia formed a Neu­tral Day but after extend­ing down pre­dom­i­nant­ly trad­ing higher
    • Pos­si­ble devel­op­ing H4 base
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Mean Rever­sion, Sus­tained Auc­tion Down
  • Hypo 2
    • ADR exhaus­tion Rever­sal, pos­si­ble Failed Auc­tion Short
  • Hypo 3
    • Late-Sus­tained Auc­tion Up
  • Hypo 4
    • Auc­tion Fade Long

Addi­tion­al notes

  • N.A

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15702.98
  • D1-C‑S 15671.13

ZOIs for Pos­si­ble Long

  • D1-C‑D 15627.52
  • W1-C‑S 15398.00

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing Okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
    • No ear­ly exits, either hit SL or 2R target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Process
    • Keep trade review com­ments short
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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